Could your super be lost?
September 18, 2019
There is $17.5 billion* in lost and unclaimed super all around Australia. Could some of it be yours?
It’s easy to lose track of things in life. Your super can be one of them. If you’ve had multiple jobs you might have multiple super funds, and then if you’ve moved house there’s a good chance that super could be lost.
While we update our details for certain things when we move – our super is often forgotten. This means there are thousands of super accounts sitting unclaimed with the ATO.
This table shows how much super is lost in each state.* The ATO also breaks it down by postcode and it can be surprising to see how much is sitting in certain suburbs.
| State | Total value of lost and unclaimed super |
| ACT | $290 million |
| NSW | $4.9 billion |
| NT | $202 million |
| QLD | $3.0 billion |
| SA | $871 million |
| TAS | $219 million |
| VIC | $3.5 billion |
| WA | $1.8 billion |
Find your super
You can now locate your super in your SuperOnline account. A few quick steps and you’ll receive a list of all your super accounts. You can then decide if you want to consolidate them all into one account.
Step 1. Log into your SuperOnline account.
Step 2. Enter the verification code we’ll send to your mobile phone (if we don’t have your mobile number give us a call on 1300 033 166 to update it).
Step 3. Receive the list of super accounts you have.
Step 3. Receive the list of super accounts you have.
Need help?
Give us a call on 1300 033 166 and we can help you with your account.
A couple of things to think about
Before you consolidate into one account you should consider the following:
- Insurance: when you consolidate your accounts into TelstraSuper you’ll lose any insurance cover with your current funds. You may be eligible to apply to transfer any existing death and total and permanent disablement insurance into TelstraSuper (not Income Protection cover). To do this, you must apply and have your application accepted in writing before you consolidate.
- Advice: think about getting financial advice before you combine your super and insurance. TelstraSuper Financial Planning can provide advice about your insurance over the phone at no additional cost. To contact an adviser call 1300 033 166.
Any general advice has been prepared without taking into account your objectives, financial situation or needs. Before you act on any general advice, you should consider whether it is appropriate to your individual circumstances. Before making any decision, you should obtain and read the relevant Product Disclosure Statement and Target Market Determination or call us on 1300 033 166 for copies of these documents. You may wish to consult an adviser before you make any decisions relating to your financial affairs. To speak with an Adviser from TelstraSuper Financial Planning call 1300 033 166.